MXX Mineral Sec

RNS Number:7171M
Mineral Securities Limited
29 January 2008

                             ASX / RNS ANNOUNCEMENT

                                29 January 2008

                      Annual Report, Financing update etc.



Mineral Securities Limited ("Minsec" or "the Company") is pleased to announce
that its Annual Report 2007 including Notice of Annual General Meeting has been
lodged with ASX and is available on both the ASX and Company websites and has
also been posted to holders of shares, DIs and CDIs.

In addition:

1.       The Company has extended the term of its A$45,000,000 loan facility
from Macquarie Bank Limited from 31 January 2008 to 30 April 2008 when repayment
is now due.

2.       The Company has suspended the credit application process in respect of
a facility to fund the C$70,508,285 consideration for the purchase of 7,122,049
Platmin shares due under the terms of the Share Purchase Agreement with CDC
Group PLC ("CDC") announced on 9 November 2007.  This suspension has resulted
from the terms of the proposed facility becoming commercially unacceptable
following recent declines in the price of shares generally and Platmin in
particular.

3.       The Company has acquired a further 316,904 common shares in Platmin
Limited ("Platmin"), taking its current beneficial holding in Platmin to 17.69%
of that company's issued share capital.  The shares were purchased from Mr Keith
Liddell, Chief Executive of Minsec, for a price of approximately �4.00 per share
which represents the average closing price on AIM and TSX on 21 January 2008,
less a deemed brokerage commission of 0.15%.

Mr Liddell has sold the shares in order to fund his exercise of 2,469,605 Class
A options over Minsec ordinary shares at A$1.15 per share which expire on 31
January 2008 and the Company has agreed to apply the funds due to Mr Liddell in
settlement of his obligations arising on the option exercise.

The purchase of Platmin shares from Mr Liddell constitutes a Related Party
Transaction for the purposes of AIM Rule 13. Where a company whose shares are
listed on AIM enters into a Related Party Transaction, AIM Rule 13 requires the
directors of the Company to consider, having consulted with the Company's
nominated adviser, that the terms of the transaction are fair and reasonable
insofar as its shareholders are concerned.

Taking into account the investment objectives and strategy of the Company, the
Directors (excluding Mr Liddell) consider, having consulted with RBC Capital
Markets, the Company's Nominated Adviser, that the terms of the related party
transaction with Mr Liddell are fair and reasonable insofar as the Company's
shareholders are concerned.

4.       The Company has received the following notifications by significant
shareholders:

a.      FirstRand (Ireland) PLC's shareholding as at 9 January 2008 comprised
8,212,256 shares in the Company registered in the name of Citicorp Nominees
(Pty) Limited and representing 5.1 per cent. of the issued share capital; and

b.      WF Asian Smaller Companies Fund Limited's shareholding as at 4 January
2008 comprised 6,527,045 shares in the Company registered in the name of HSBC
Custody Nominees (Australia) Limited and representing 4.04 per cent. of the
issued share capital.



For further information, please contact:

Keith Liddell, Chief Executive Officer

James Haddock, Interim Chief Financial Officer and Company Secretary

Tel: +44 20 7478 5100 (London) +61 8 9221 7466 (Perth)



Email: enquiries@mineralsecurities.com



Nominated Adviser: RBC Capital Markets

Martin Eales      Tel: +44 20 7029 7881




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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